ANNAMALAI REDDIAR Vs. COMMISSIONER OF INCOME TAX
LAWS(KER)-1963-7-40
HIGH COURT OF KERALA
Decided on July 30,1963

ANNAMALAI REDDIAR Appellant
VERSUS
COMMISSIONER OF INCOME-TAX, KERALA. Respondents







JUDGEMENT

- (1.)This is a reference by the Income Tax Appellate Tribunal, Madras bench, under S.66(2) of the Indian Income tax Act, 1922. The assessment year with which we are concerned is 1954-55; and the accounting period, the Malayalam year 1128 (17-8-1952 to 16-8-1953).
(2.)The peak credit - on 6-1-1953 - in the anamath account of the assessee was Rs. 13,865/-. The Income Tax Officer rejected his explanation regarding the entries in that account and assessed the said sum as his income from other sources. The Appellate Assistant Commissioner agreed with the Income Tax Officer and confirmed the conclusion. The Appellate Tribunal treated the amount not as income from other sources but as income from the assessee's business itself.
(3.)The first and the second questions referred to us relate to the sum of Rs. 13,865/- and read as follows:
" (1) Whether the Tribunal was justified in law in coming to the conclusion that the sum of Rs. 13,865/- being the peak credit in the anamath account on 6-1-1953 represents the undisclosed business income

(2) If the sum of Rs. 13,865/- referred to above is held to be income from other sources whether the said sum is taxable for the assessment year 1954-55 -

It is common ground that if the amount is treated as income from other sources it will not be taxable in the assessment year 1954-55. The second question, therefore, has to be answered in the negative and against the Department.

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